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Balance sheet. Use the data from the following financial statements in the popup window. Complete the balance sheet. Hint: Find the accumulated depreciation for 2017
Balance sheet. Use the data from the following financial statements in the popup window.
Complete the balance sheet. Hint: Find the accumulated depreciation for 2017 first.
Partial Income Statement Year Ending 2017 $350,000 Sales revenue Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $28,000 Depreciation $46,000 ASSETS LIABILITIES Cash $15,900 Notes payable $14,000 $28,000 Accounts payable $19,200 Accounts receivable $48,000 Long-term debt $190,100 Inventories Fixed assets $368,200 OWNERS' EQUITY Accumulated depreciation (-) $142,100 Retained earnings Intangible assets $82,200 Common stock $132,000 LIABILITIES ASSETS $26,100 Notes payable $19,000 Accounts payable $11,800 Cash Accounts receivable $24,000 $53,200 Long-term debt $161,800 Inventories $448,000 OWNERS' EQUITY Fixed assets Accumulated depreciation) Retained earnings $81,900 Common stock Intangible assets $182,000Step by Step Solution
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